CBI REGISTERS A CASE AGAINST A CHAIRMAN & MANAGING DIRECTOR OF SYNDICATE BANK AND 11 OTHER PRIVATE PERSONS IN AN ALLEGED BRIBERY MATTER

Press Release
New Delhi, 02.08.2014

 

            The Central Bureau of Investigation has registered two cases against Chairman & Managing Director of Syndicate Bank and 11 other private persons including CMD & Directors of two private firms based at Delhi in a bribery case under relevant sections of Prevention of Corruption Act, 1988 and criminal conspiracy.

 

            It is alleged that the said public servant has been indulging into negotiations for illegal gratification directly as well as through middlemen for extending undue favour to private companies by granting sanction to various financial proposals. The private persons on behalf of companies and others allegedly enter into criminal conspiracy and obtain illegal gratification meant for the public servant and further deliver it to the middlemen on behalf of the public servant.

 

            It is further alleged, that in one case, the public servant was directly negotiating with a private company for an illegal gratification of Rs. 50 lakhs in lieu of granting credit extension to the said company as it had defaulted on the payment of loan installments amounting to crores of rupees to the bank. The officials of the said company allegedly agreed to pay the said illegal gratification and the money was transferred to the middlemen who are also relative of the public servant. CBI laid a trap and recovered the illegal gratification of Rs. 50 lakhs on the spot after the said delivery was made.

 

            Searches were conducted at 20 places including office & residence of the public servant and other private persons at Delhi, Bhopal, Mumbai & Bengaluru. During searches incriminating documents related to the case have been recovered. Apart from this, huge cash; jewellery and property documents have been recovered from the residence of the public servant.

 

            Further investigation is continuing.

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